complete requirements 1-5 please
The Irwin Batting Company manufactures wood baseball bats. Irwin's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high school and college-aged players. Irwin sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $60; the adult bat sells for $75. Irwin's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Irwin's balance sheet for December 31, 2024, and other data for the first quarter of 2025 follow: (Click the icon to view the balance sheet.) (Click the icon to view the other data.) Read the requirements. Requirements 1. Prepare Irwin's sales budget for the first quarter of 2025 . 2. Prepare Irwin's production budget for the first quarter of 2025. 3. Prepare Irwin's direct materials budget, direct labor budget, and manufacturing overhead budget for the first quarter of 2025 . Round the predetermined overhead allocation rate to two decimal places. The overhead allocation base is direct labor hours. 4. Prepare Irwin's cost of goods sold budget for the first quarter of 2025. 5. Prepare Irwin's selling and administrative expense budget for the first quarter of 2025 . Data table Data table Data table More info a. Budgeted sales are 1,500 youth bats and 3,200 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 350 youth bats at $12 each and 550 adult bats at $12 each. c. Desired ending Finished Goods Inventory is 250 youth bats and 240 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 42 ounces of wood per youth bat and 62 ounces of wood per adult bat. The cost of wood is $0.15 per ounce. e. Raw Materials Inventory on December 31,2024, consists of 20,000 ounces of wood at $0.15 per ounce. f. Desired ending Raw Materials Inventory is 20,000 ounchs (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.5 hours of direct labor; direct labor costs average $30 per hour. More info ounces of wood at $0.15 per ounce. f. Desired ending Raw Materials Inventory is 20,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.5 hours of direct labor; direct labor costs average $30 per hour. h. Variable manufacturing overhead is $0.70 per bat. i. Fixed manufacturing overhead includes $900 per quarter in depreciation and $15,402 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $13,4,0 per quarter for salaries; $5,000 per quarter for rent; $1,600 per quarter for insurance; and $100 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 5% of sales
